State Sen. Hannah-Beth Jackson is pushing a bill — SB 956 — that would authorize an economic team at UC Berkeley to examine certain major tax breaks.
California faces a $9.7-billion drop in tax revenues for the fiscal year that ends in June, with a total projected deficit of $54.3 billion through the early summer of 2021.Jackson isn’t targeting any of those. She’s singling out eight business tax breaks that don’t have sunsetting clauses and have each cost the state at least $1 billion over 10 years.
“What happens is companies just throw a bunch of spending into a bucket and call it ‘research and development.’”
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